420,821 Shares in Enovis Corporation $ENOV Bought by Man Group plc

Man Group plc bought a new stake in shares of Enovis Corporation (NYSE:ENOV - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 420,821 shares of the company's stock, valued at approximately $8,711,000. Man Group plc owned approximately 0.73% of Enovis as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. AQR Capital Management LLC increased its position in Enovis by 12.5% in the first quarter. AQR Capital Management LLC now owns 63,671 shares of the company's stock worth $2,363,000 after buying an additional 7,072 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Enovis by 37.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 267,617 shares of the company's stock valued at $10,226,000 after buying an additional 73,116 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Enovis by 13.0% during the 1st quarter. Empowered Funds LLC now owns 6,515 shares of the company's stock valued at $249,000 after acquiring an additional 749 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Enovis by 125.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,271 shares of the company's stock valued at $40,000 after acquiring an additional 707 shares during the period. Finally, Amundi increased its holdings in Enovis by 24,405.0% in the 2nd quarter. Amundi now owns 9,802 shares of the company's stock worth $328,000 after acquiring an additional 9,762 shares in the last quarter. Institutional investors own 98.45% of the company's stock.

Enovis Stock Performance

NYSE:ENOV opened at $24.91 on Friday. The stock has a 50-day moving average price of $25.60 and a 200 day moving average price of $24.25. The stock has a market capitalization of $1.44 billion, a P/E ratio of -1.29 and a beta of 1.34. Enovis Corporation has a 12-month low of $19.14 and a 12-month high of $34.28. The company has a current ratio of 1.98, a quick ratio of 1.00 and a debt-to-equity ratio of 0.84.

Enovis (NYSE:ENOV - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.05. Enovis had a positive return on equity of 12.03% and a negative net margin of 47.96%.The company had revenue of $582.78 million for the quarter, compared to analysts' expectations of $581.84 million. During the same period in the previous year, the firm earned $0.79 EPS. The firm's revenue was up 3.2% compared to the same quarter last year. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. Equities research analysts forecast that Enovis Corporation will post 3.15 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on ENOV. Wells Fargo & Company decreased their target price on shares of Enovis from $40.00 to $39.00 and set an "overweight" rating on the stock in a research note on Friday, August 7th. Zacks Research upgraded shares of Enovis from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 29th. BTIG Research increased their price objective on shares of Enovis from $39.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Evercore set a $32.00 price objective on shares of Enovis in a research report on Monday, July 6th. Finally, Canaccord Genuity Group lowered their target price on shares of Enovis from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Monday, August 17th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $41.29.

Insider Activity

In related news, insider Oliver Engert bought 1,200 shares of the stock in a transaction dated Thursday, June 11th. The shares were purchased at an average price of $21.62 per share, with a total value of $25,944.00. Following the completion of the acquisition, the insider owned 51,840 shares of the company's stock, valued at $1,120,780.80. This represents a 2.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased a total of 4,200 shares of company stock worth $92,084 in the last quarter. Company insiders own 2.90% of the company's stock.

About Enovis

Enovis is a global medical technology company focused on advancing the field of musculoskeletal health. Formed through the separation of the MedTech business from Colfax Corporation in 2021, Enovis brings together a portfolio of specialized products and services designed to address conditions affecting the foot and ankle, hand and wrist, sports medicine, joint repair, biologics and rehabilitation.

The company’s flagship offerings include minimally invasive implants and instrumentation for foot and ankle surgery under the Treace Medical Concepts brand, focal joint resurfacing implants through Arthrosurface, and synthetic bone graft substitutes marketed as NovaBone.

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